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BioMed Realty Trust Extends Leases With Vertex Pharmaceuticals Through 2015
Date:1/15/2009

SAN DIEGO, Jan. 15 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc. (NYSE: BMR) announced today the signing of two lease extensions in Cambridge, Massachusetts with Vertex Pharmaceuticals Incorporated, totaling over 292,000 square feet at BioMed's 40 Erie Street (also known as Vertex's Corporate Headquarters at 130 Waverly Street) and 200 Sidney Street properties. Both leases now extend through December 31, 2015. In total, Vertex leases approximately 685,000 square feet at five BioMed properties, including approximately 604,000 total square feet in Cambridge and 81,000 square feet in San Diego.

This early renewal successfully addresses BioMed's largest, single tenant lease expiration in the next five years. BioMed's proactive approach to leasing and renewals has resulted in less than 3% of annualized based rents expiring in 2009 and less than 5% of annualized base rents expiring in 2010. In aggregate across its portfolio, BioMed's weighted average remaining lease term is approximately nine years.

"BioMed remains focused on being the leading provider of real estate to the life science industry, and these lease renewals demonstrate our strong relationship with Vertex and their ongoing commitment to our properties in both the Cambridge and San Diego core biotech markets," said Alan D. Gold, Chairman and Chief Executive Officer of BioMed Realty Trust. "We look forward to supporting Vertex as their company advances in the years ahead."

About BioMed Realty Trust

BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused on Providing Real Estate to the Life Science Industry(R). The company's tenants primarily include biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry. BioMed
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SOURCE BioMed Realty Trust, Inc.
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